Electric Cables: How are the Markets Performing?
Thursday, May 13, 2021
During 2020, imports of electrical wires and cables in Nicaragua and Guatemala increased in year-on-year terms, and in the cases of Costa Rica, El Salvador, Honduras and Panama they decreased considerably.
Figures from the Trade Intelligence Unit of CentralAmericaData:

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Regional Business Down
In 2020, Central American imports of electrical cables registered a 20% drop compared to the previous year, falling from $549 million to $437 million.

In contrast to the general behavior of imports, the region's purchases from Chinese companies increased for the periods in question, going from $72 million to $84 million, representing a 17% increase.

Costa Rican Companies, Main Buyers
In 2020, the main importer of wires, cables and other conductors for electricity in Central America was Costa Rica, with $134 million, followed by Guatemala, with $113 million, Honduras, with $60 million, Panama, with $51 million, El Salvador, with $40 million and Nicaragua, with $38 million.

Regarding the year-on-year variation by market, last year Nicaragua reported a 19% increase and Guatemala a 2% increase.

Costa Rica, El Salvador, Honduras and Panama were the markets in the region that recorded negative variations, amounting to -19%, -24%, -25% and -51%, in that order.

Main Suppliers to the Regional Market
Last year, 25% of the value of imports from Central America came from Mexico, 21% from the USA, 19% from China, 4% from the Panama Free Trade Zone, 2% from Hong Kong and 2% from Spain.

In recent years China is the market of origin of imports that has grown the most, since in 2012 it represented 10% of the total value purchased by the region and in 2020 that proportion rose to 19%.

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